Promoting Leadership Principles in Product Management

Trust

The recent theme at Lead on Purpose is trust. This focus has come primarily from reading The Speed of Trust by Stephen M.R. Covey. He discusses the concept of building a trust account, which is similar to a bank account. By behaving in ways that build trust you make deposits, by behaving in ways that destroy trust you make withdrawals. The ‘balance’ in the account reflects the amount of trust you have at any given time. You have a unique trust account with every person you know, and all deposits and withdrawals are not created equal.

Trust is built or destroyed by behaviors. Covey teaches 13 Behaviors of high-trust people and leaders worldwide. These behaviors will increase trust and improve your ability to interact effectively with people in every aspect of your life. Here are the behaviors that will help you build trust:

Talk Straight: Be honest. Tell the truth. Let people know where you stand.

Demonstrate Respect: Genuinely care for others. Respect the dignity of every person and every role.

Create Transparency: Tell the truth in a way people can verify. Get real and genuine. Be open and authentic.

Right Wrongs: Make things right when you’re wrong. Apologize quickly. Make restitution where possible.

Show Loyalty: Give credit to others. Speak about people as if they were present. Represent others who aren’t there to speak for themselves.

Deliver Results: Establish a track record of results. Get the right things done. Make things happen.

Keep Commitments: Say what you’re going to do, then do it. Make commitments carefully and keep them at all costs.

Extend Trust: Demonstrate a propensity to trust. Extend trust abundantly to those who have earned your trust. Extend trust conditionally to those who are earning your trust.

Mastering the 13 behaviors requires a combination of character and competence. You can (and should) work to improve your abilities in each of these areas. Focus on the ones you consider to be your weaknesses and take the attitude that you will improve. Building trust is not something that happens overnight. As Warren Buffet said: “It takes twenty years to build your reputation and five minutes to ruin it.”

Study these principles, then master them. Study Covey’s book and practice the principles he so eloquently teaches. Every aspect of your life will improve.

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The Product Management Perspective: Trust is the most important characteristic a product manager can possess. To effectively work with development, sales and other teams in your organization you must gain their trust. Trust is key to understanding your customers and your market. Trust is a two-way street: you need to carry out your tasks in such a way that the team members will trust you. You also need to trust that the team members will do what they have committed to do. The 13 behaviors listed above provide an excellent roadmap to developing and extending trust with others.